Fifa has lifted the transfer embargoes on Real Madrid and Atletico Madrid. The La Liga clubs were sanctioned earlier in January for failing to comply with regulations on signing young players, but the world game's governing body has lifted the ban pending the outcome of their appeal.

The ban on signing new players had been set to begin at the closure of the January transfer window. However, the embargo has now been lifted after both clubs announced their intention to appeal the original ruling and punishment.

Real Madrid president Florentino Perez recently refuted the accusations levelled against his club. "The ban is very hurtful and it is very serious to stain the image of Madrid with this,' he said, according to the Daily Mail. "We are convinced that it is all an error and it is ridiculous to think that Real Madrid is to be punished over a matter of protecting minors when children have always been a priority for us."

Atletico have also defended their position on the issue. The club recently said: "We consider that we have acted within the law in all cases. In addition, we request the probationary suspension of the sanction pending the outcome of the appeal."

The original ban would have meant that Real and Atletico would have been prohibited from signing any players until 2017. However, the alleged breach of FIFA rules on signing non-Spanish players Under-18 still threatens to see them prevented from signing players in the future.